New Delhi, June 15: ByteDance, the parent company of TikTok, has announced its layoff plan in Indonesia. The layoffs is expected to be a part of the company's broader strategy to streamline its operations and optimise its workforce. ByteDance, known for its popular app TikTok, has confirmed that these layoffs will impact its Indonesian unit. The company stated that the layoffs are necessary to ensure long-term sustainability and efficiency.

As per a report of Reuters, ByteDance confirms its layoff plan at its Indonesian unit. The company has not specified the exact number of employees affected. The announcement follows the company's recent agreement with Tokopedia, an Indonesian e-commerce giant, which suggests a shift in business strategy and focus. ByteDance's layoffs highlight the challenges even successful tech companies face in adapting to market changes and maintaining operational efficiency. Paytm Layoffs: Employees of Fintech Major Complain About Forced Voluntary Resignations and Informal Processes, Says Report.

In January, ByteDance acquired a majority stake in Tokopedia, an Indonesian e-commerce company, from GoTo. Tokopedia is a leading e-commerce platform in Indonesia, which is Southeast Asia's largest economy. ByteDance had its own e-commerce operation in Indonesia through its TikTok app, but it was banned due to a rule that prohibited social media apps from operating as e-commerce platforms.

The layoffs are a common practice in the tech industry to streamline operations. ByteDance has assured that it will support employees throughout this transition, as per a report of Business Standard. The company will likely minimise the impact on its employees by providing necessary assistance to those who will be leaving the organisation. Meta Layoffs: Mark Zuckerberg-Run Company To Lay Off Around 50 Incompetent Vice Presidents Amid Restructuring.

ByteDance, the parent company of TikTok, has announced that it will be making some changes as a result of the integration of TikTok and the Indonesian e-commerce platform Tokopedia. In a statement, a ByteDance spokesperson, Nuraini Razak, said the company would "make necessary adjustments" to accommodate this combination of its popular social media app and the e-commerce platform.

(The above story first appeared on LatestLY on Jun 15, 2024 12:35 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).